Global supply chain visibility provider project44 on Thursday announced that after testing with an undefined number of its third-party logistics customers, it has produced its newest tool, Cooperative.
Using real-time data from the 150,000 truckload carriers within the company’s network, along with data from more than 300,000 shipments those carriers perform every week, 3PLs can now leverage that information to make better freight-matching decisions.
In the announcement, project44 made it clear that it would “never become a broker” and instead wants to provide 3PLs with the actionable data they need to optimize their current carrier networks and build new relationships with carriers under project44’s global network.
“The heart of our business is using the technology that serves as the industry’s connective tissue, and the most accurate logistics data available, to solve colossal supply chain problems that were previously thought to be unsolvable,” said Jett McCandless, founder and CEO at project44.
McCandless went on to explain that with the help of its 3PL customers, project44 was able to create the tool to help fight the capacity shortages and transit delays plaguing many logistics providers today.
Through Cooperative, 3PLs will be able to run a query on their entire book of loads, receive carrier identification information via an API integration, and, with project44’s proprietary ETA models, receive feedback of when carriers will be available for a load up to 48 hours ahead of reaching that destination.
Carrier representatives will be able to take that information and not only accept freight from its customers days in advance, but choose carriers based on their ability to be tracked and a variety of on-time metrics.
Integrating this solution into 3PLs’ current freight-matching technologies will enable carrier representatives to build strong long-term relationships with both the carrier and the customer on that lane, while simultaneously guaranteeing tracking by a global leader in freight visibility, according to technology research company Gartner.
Both 3PLs Emerge and Stream Logistics, which have been testing Cooperative, have found it highlights capacity that many carrier representatives might have missed without project44’s machine learning capabilities.
“Cooperative makes us more efficient by bringing capacity that was once hidden to light, increasing volume and customer satisfaction,” said Andrew Leto, founder and CEO at Emerge.
Carson Holmquist, co-founder and CEO at Stream Logistics, said, “Cooperative by project44 provides high-fidelity, real-time data to help us capture efficiencies and access more capacity without adding more work. This solution meets an essential need at a critical time in the supply chain by providing a digital way to match an available driver with available freight.”
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